{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-22-025392","form_type":"8-K","ticker":"TSNDF","cik":"0001778129","company_name":"TerrAscend Corp.","filed_at":"2022-11-17T23:59:59+00:00","discovered_at":"2026-05-14T18:03:52.082022+00:00","generated_at":"2026-06-21T16:45:12.060375+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"TerrAscend Q1 2022 net sales $49.7M, adjusted EBITDA $3.3M, net loss $16.0M","bullets":["Net sales $49.7M, up 1% QoQ but down 7% YoY; hit by PA vape recall and NJ adult-use inventory build.","Adjusted gross margin 38.4% vs 49.8% Q4 2021; GAAP gross margin 30.5% due to recall charges.","Adjusted EBITDA $3.3M vs $11.9M Q4 2021; net loss $16.0M vs $5.9M prior quarter.","Subsequent events: NJ adult-use sales started Apr 21; acquisitions of 5 Pinnacle MI dispensaries and MD medical dispensary.","Cash $88.4M; Gage Acquisition closed Mar 10; operating cash flow negative $18.8M."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-22-025392","json":"https://secwatch.observer/filing/0000950170-22-025392.json","markdown":"https://secwatch.observer/filing/0000950170-22-025392.md","text":"https://secwatch.observer/filing/0000950170-22-025392.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1778129/000095017022025392/0000950170-22-025392-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1778129/000095017022025392/trssf-20220512.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-21T16:45:12.060375+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"00642fbdaa2b530639352d589e0d8a920bd632e5","claim":"TerrAscend Corp. reported first quarter ending March 31, 2022 results: revenue 49.7, net income (16.0).","evidence_excerpt":"Revenue, net 53.4 49.2 49.7 QoQ increase 7.5% 0.1% 0.9% YoY increase 106.2% -0.8% -6.9% Gross profit 34.9 20.8 15.1 Adjusted Gross profit 1 34.9 24.5 19.1 Adjusted gross margin % 65.5% 49.8% 38.4% Share-based compensation expense 3.6 1.5 3.4 General & Administrative expense (excl share based comp) 16.8 17.0 19.2 % of revenue, net 31.5% 34.5% 38.7% Adjusted EBITDA 1 21.6 11.9 3.3 Adjusted EBITDA % of revenue, net 40.4% 24.2% 6.6% Net loss (14.1) (5.9) (16.0)","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1778129/000095017022025392/0000950170-22-025392-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ending March 31, 2022"},{"label":"Revenue","value":"49.7"},{"label":"Net income","value":"(16.0)"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}